Homework Answers
| Date | General Journal | Debit | Credit |
| Dec. 31 | Bad Debts expense (2700000*2.5% - 30600) | $36,900 | |
| Allowance for doubtful accounts | $36,900 | ||
b.
| Current Assets: | |
| Accounts receivables | $475,000 |
| Less: Allowance for doubtful accounts | (67500) |
| $407,500 |
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